Oil to stay below US$70/bbl if Iran sanctions lifted -Indian refiner HPCL | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
India is still hopeful it can participate in the Farzad B natural gas field development in the Persian Gulf after Iran decided to go ahead with the project without foreign participation, oil ministry officials told S&P Global Platts on May 23.
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With US and Iran talks progressing to end sanctions against the Middle East country, some Indian refiners also told Platts they are looking forward to resuming crude trade with Iran. Any positive development on Iran would reduce crude price and help consuming countries like India, M.K. Surana, chairman and managing director of Hindustan Petroleum Corp. Ltd (HPCL). India s No 3 state-run refiner, told Platts. Oil prices are unlikely to go much beyond $70/b for long.
JM Financial said that the company s standalone Ebitda and profit were significantly ahead of consensus estimates due to stronger-than-expected crude inventory gains.
IndiaOil to stay below $70/bbl if Iran sanctions lifted -Indian refiner HPCL
Nidhi Verma
3 minute read
Indian state refiner Hindustan Petroleum Corp (HPCL.NS) said on Friday it expects global oil prices to ease and stay below $70 per barrel if the United States lifts sanctions against Iran.
India, the world s third largest oil consumer and importer, halted oil imports from Tehran in 2019 as a temporary waiver granted to some countries expired. Former U.S. President Donald Trump abandoned the 2015 Iran nuclear deal in 2018 and reimposed sanctions.
Iran and world powers have been in talks since April on reviving the 2015 deal and the European Union official leading the discussions said on Wednesday he was confident an agreement would be reached.
India s top refiner says will buy Iranian oil if sanctions lifted
5/21/2021
Indian Oil Corp, the country s top refiner, said that it would resume purchases of Iranian oil if Washington lifts sanctions against Tehran over its disputed nuclear program.
The European Union official leading talks to revive Iran s nuclear deal said on Wednesday he was confident an agreement would be reached as the negotiations adjourned, although European diplomats said success was not guaranteed with very difficult issues remaining.[ We were buying Iran crude earlier before sanctions, and I don t have any doubt why we will not buy Iran crude because that favours the Indian refining system if the sanctions are lifted, S. K. Gupta, head of finance at IOC, told an analyst call.